Mutual of America Capital Management LLC Lowers Position in PBF Energy Inc. (NYSE:PBF)

Mutual of America Capital Management LLC decreased its stake in shares of PBF Energy Inc. (NYSE:PBF) by 10.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,819 shares of the oil and gas company’s stock after selling 6,599 shares during the quarter. Mutual of America Capital Management LLC’s holdings in PBF Energy were worth $1,666,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Royce & Associates LP bought a new position in shares of PBF Energy during the 3rd quarter valued at about $215,000. MQS Management LLC purchased a new stake in shares of PBF Energy in the third quarter worth about $405,000. GSA Capital Partners LLP boosted its stake in PBF Energy by 76.8% during the third quarter. GSA Capital Partners LLP now owns 44,618 shares of the oil and gas company’s stock valued at $1,381,000 after buying an additional 19,375 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in PBF Energy by 44.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock valued at $1,839,000 after buying an additional 18,173 shares in the last quarter. Finally, Covestor Ltd increased its stake in PBF Energy by 64.6% in the 3rd quarter. Covestor Ltd now owns 2,780 shares of the oil and gas company’s stock worth $86,000 after acquiring an additional 1,091 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Stock Down 0.7 %

Shares of PBF opened at $31.78 on Tuesday. The firm has a market capitalization of $3.66 billion, a P/E ratio of -12.27 and a beta of 1.56. PBF Energy Inc. has a 12-month low of $27.94 and a 12-month high of $62.88. The firm has a fifty day moving average price of $31.56 and a 200-day moving average price of $37.60. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The company had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the prior year, the company earned $6.61 earnings per share. PBF Energy’s revenue was down 21.9% on a year-over-year basis. Equities research analysts expect that PBF Energy Inc. will post -2.79 earnings per share for the current year.

PBF Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 3.46%. PBF Energy’s payout ratio is -42.47%.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital purchased 510,000 shares of PBF Energy stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $33.18 per share, for a total transaction of $16,921,800.00. Following the acquisition, the insider now owns 19,129,598 shares in the company, valued at $634,720,061.64. This trade represents a 2.74 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders bought 4,592,400 shares of company stock worth $145,300,797. 6.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PBF has been the subject of a number of recent research reports. BMO Capital Markets lowered shares of PBF Energy from an “outperform” rating to a “market perform” rating and cut their target price for the company from $42.00 to $35.00 in a report on Friday, October 4th. Tudor Pickering raised shares of PBF Energy to a “strong sell” rating in a report on Monday, September 9th. Morgan Stanley dropped their price target on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. The Goldman Sachs Group decreased their price objective on PBF Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, October 4th. Finally, TD Cowen decreased their price target on PBF Energy from $32.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $34.18.

PBF Energy Profile

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.